Unfortunately, in the world, where Pentagon servers are hacked and mobiles phones of world leaders are tapped, no one can provide such guarantees. We use standard protection means: data are transferred through protected SSL protocol, backup is maintained etc. However, that ensures only relative security, of course. On the other hand, our server doesn't store your credit card details, client's lists of your firm or the list of bank transactions. Our servers only store financial statements - i.e. the documents, which are initially prepared for an external user. From this point of view, confidentiality risks with our service are significantly lower, than, for example, with online accounting or settlement services.

The software contains only those indicators that must be disclosed in accordance with IFRS. We have reconciled that based on IFRS Taxonomy. In order to check it you can open information ("About item" in cell context menu) containing a references to the standard clause, which requires such indicator disclosure.

Software Use

Indeed, the IFRS statements are rather vast. At the same time, we included only the indicators that must be mandatory disclosed according to the Standards. However, it doesn't mean that you need to fill out all the tables. You won't have certain specific sections (for instance, related to biological assets or mining). Many tables contain the description of assets and transactions that you are not supposed to have (for example, hedging instruments). Start filling out the key statements, and then follow the information available in your accounting. While doing that, do not pay attention to the tables and line items that you are going to keep unfilled: the software will hide them, when making report.

The software highlights cells in yellow and red in order to drive your attention to some problems with indicators consistency. Yellow color means warning. It means that somewhere in the reporting there is the breakdown of the indicator you entered, but you haven't yet entered the data there. Red color means error: somewhere in other tables there is the same indicator, but the sum of line items comprising it results in a different value. Or you have first entered the sum, and then the components of this sum, but they do not result in the required sum. In such case, the software may display a small red box next to the cell with a hint regarding difference value.

In order to understand, what is wrong with the indicator, in which formula inconsistency is found, right click the cell and select "Show by formulas".

This is our special adaptive approach to filling out reporting line items, which also enables user to enter the values to the cells, which are computed based on formula (i.e. "Total" cells). The rule is simple: "Total" is automatically re-computed, if equation is satisfied for this formula when data is entered. If it is not satisfied (the cell is red), automatic re-computation will not start until you adjust the formula (by changing the values of cells that comprise Total, or directly changing Total value). For more details about this mechanism, see this article.

It may happen that reporting is ready, but it is necessary to adjust it by including certain previously unrecorded operations. To make it easier and to avoid the bottom line from being disturbed due to the input of figures to a certain cell we introduced the adjustment entries mechanism. When making adjustment entry you specify debit and credit similarly to accounting, and our software posts data to tables subject to all interrelations. You will not be able to disturb the bottom line and relations between individual forms by making adjustment entry even if you wish to.

Basically, the situation when a certain entry cannot be made is impossible. The software implements the chart of accounts consisting of the Statement of Financial Position (Balance Sheet) and the Statement of Comprehensive Income (P&L) line items rather than any line items list of our own invention. It means that it is possible to record ANY operation.

Please note, any chart of accounts (in any country) is just a detailed breakdown of two line items from the financial reporting forms: Balance sheet and P&L. That is why, in order to make an adjustment entry, think of what line items in the Balance Sheet and P&L will such operation affect. It will make clear, what kind of entry is required. For convenience, we have inserted special abbreviation for items (statements line items) to debit and credit selection lists:

FP – line item of Statement of Financial Position

PL – line item of Statement of Profit and Loss

CI – other comprehensive income.

For instance, it is possible to reduce cost of sales and increase stock by making adjustment entries. The entry will be like this:

Dr FP:Inventories – Cr PL:Cost of sales

It is possible to make a reversing negative entry. However, as all entries are adjustment entries, we recommend using "regular" rather than negative entries for ease.

Our software takes into account hundreds of relations between reporting indicators. If you only enter Debit and Credit, such changes will affect only the key reporting forms. However, there are a lot of notes that adjustment needs to affect. If they are not specified, relations between reporting indicators will be disturbed. That is why the software requests all details that are necessary for the accurate record of your entry in statements and notes. For user it is similar to the choice of analytical breakdown in accounting software. Thus, our software helps you to observe indicators consistency in all reporting forms!